NEWS - Up big timeHappy Creek starts drilling at Rateria
2009-09-22 09:26 ET - News Release
Mr. David Blann reports
HAPPY CREEK ANNOUNCES DRILLING IS UNDERWAY ON THE RATERIA COPPER PROPERTY, HIGHLAND VALLEY AREA, B.C.
Happy Creek Minerals Ltd. has commenced drilling on its Rateria property that adjoins the southeast of Teck Resources Ltd.'s Highland Valley copper mine property. The Highland Valley copper mine is North America's third-largest copper producer.
The 2009 diamond drilling program is planned to expand on the positive drill results returned from zones 1 and 2 that were first discovered by the company between 2006 and 2008. Results from zone 1 include 100.0 metres grading 0.29 per cent copper, 84.0 metres of 0.30 per cent copper and 10.4 metres grading 1.55 per cent copper. Several holes ended in copper mineralization. Results from zone 2 include 177.0 metres grading 0.37 per cent copper, including 27.0 metres grading 1.05 per cent copper, 0.02 per cent molybdenum, five grams per tonne silver and 0.24 gram per tonne gold, as well as 153.1 metres containing 0.24 per cent copper, including 17.5 metres containing 1.12 per cent copper. These two positive drill intercepts from zone 2 are 200 metres apart and remain undefined and open in extent. Drilling is planned to test for extensions of zone 2 that occur in a five-kilometre-long "corridor" defined by positive geophysical and geological information.
The company also announces preliminary results from the 100-per-cent-owned West Valley property that adjoins the southwest portion of Teck's Highland Valley Copper property. Preliminary results from the 2009 geological mapping program include the location of the new NTP zone that was exposed during recent logging road construction. Here, two grab samples approximately 65 metres apart returned 1.7 per cent copper and 0.37 gram per tonne gold, and 1.4 per cent copper and 0.27 gram per tonne gold. Other mineralized outcrops occur up to one kilometre away including 0.80 per cent copper and 0.07 gram per tonne gold. This new mineralized zone occurs between two other historical copper prospects and together defines an area of interest approximately two kilometres by 1.5 kilometres in dimension. Grid lines are currently in preparation for a 3-D induced polarization and magnetic geophysical survey over this area.
The company has assembled a 100-per-cent interest in over 140 square kilometres of mineral claims within one of North America's most prolific copper mining camps. To date Happy Creek has discovered by drilling two new zones containing significant copper grades that remain undefined and open in extent, and identified several other prospective targets that are also planned for drilling this year.
The company currently has working capital of approximately $1.7-million.
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